Recent Investment Analysts’ Ratings Changes for Snap (SNAP)

Several analysts have recently updated their ratings and price targets for Snap (NYSE: SNAP):

• 9/30/2024 – Snap had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $8.00 price target on the stock.
• 9/23/2024 – Snap had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $8.00 price target on the stock.
• 9/20/2024 – Snap is now covered by analysts at B. Riley. They set a “neutral” rating and a $11.00 price target on the stock.
• 9/19/2024 – Snap was upgraded by analysts at B. Riley to a “hold” rating.
• 9/18/2024 – Snap had its “neutral” rating reaffirmed by analysts at Roth Mkm. They now have a $14.00 price target on the stock.
• 9/18/2024 – Snap had its “market perform” rating reaffirmed by analysts at JMP Securities.
• 9/18/2024 – Snap had its “buy” rating reaffirmed by analysts at Deutsche Bank Aktiengesellschaft. They now have a $14.00 price target on the stock.
• 9/5/2024 – Snap is now covered by analysts at Cantor Fitzgerald. They set a “neutral” rating and a $8.00 price target on the stock.
• 8/12/2024 – Snap had its price target lowered by analysts at Citigroup Inc. from $16.00 to $11.00. They now have a “neutral” rating on the stock.
• 8/8/2024 – Snap was upgraded by analysts at Argus to a “hold” rating.
• 8/6/2024 – Snap had its “hold” rating reaffirmed by analysts at Benchmark Co..

Snap Stock Performance

SNAP traded up $0.46 during midday trading on Wednesday, reaching $10.89. The company had a trading volume of 22,104,277 shares, compared to its average volume of 27,510,615. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74. The business has a 50-day moving average of $9.95 and a two-hundred day moving average of $12.77. The company has a market cap of $17.86 billion, a P/E ratio of -13.44 and a beta of 1.00. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.90.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.25 billion. As a group, equities research analysts predict that Snap Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Snap

In other news, General Counsel Michael J. O’sullivan sold 59,053 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $9.29, for a total transaction of $548,602.37. Following the completion of the transaction, the general counsel now directly owns 1,258,278 shares of the company’s stock, valued at approximately $11,689,402.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $13.28, for a total transaction of $239,040.00. Following the transaction, the general counsel now directly owns 463,908 shares of the company’s stock, valued at approximately $6,160,698.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 59,053 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $548,602.37. Following the transaction, the general counsel now owns 1,258,278 shares of the company’s stock, valued at $11,689,402.62. The disclosure for this sale can be found here. Insiders have sold 1,493,540 shares of company stock worth $13,271,826 over the last quarter. 22.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its stake in shares of Snap by 2.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock valued at $698,000 after acquiring an additional 891 shares in the last quarter. Treasurer of the State of North Carolina raised its position in Snap by 2.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 262,059 shares of the company’s stock valued at $4,437,000 after purchasing an additional 6,620 shares during the last quarter. Bank of Nova Scotia bought a new position in Snap in the 4th quarter valued at $381,000. California State Teachers Retirement System raised its position in shares of Snap by 6.4% during the fourth quarter. California State Teachers Retirement System now owns 1,430,586 shares of the company’s stock worth $24,220,000 after acquiring an additional 85,611 shares during the last quarter. Finally, KBC Group NV increased its holdings in Snap by 62.5% in the fourth quarter. KBC Group NV now owns 491,442 shares of the company’s stock valued at $8,320,000 after purchasing an additional 189,086 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.